Synchrony Financial announced its first-quarter 2025 results on April 22, 2025, reporting net earnings of $757 million, or $1.89 per diluted share. Excluding an $802 million post-tax gain on sale from Pets Best in the prior year, adjusted net earnings for Q1 2024 were $491 million, or $1.18 per diluted share, indicating a strong adjusted performance.
The company's Board of Directors approved a 20% increase in the quarterly cash dividend to $0.30 per share of common stock, payable on May 15, 2025. Additionally, the Board authorized a new share repurchase program of up to $2.5 billion, commencing in the second quarter of 2025 through June 30, 2026.
Net interest income increased by 1.3% year-over-year to $4.464 billion, while the provision for credit losses decreased by 20.9% to $1.491 billion. However, net revenue declined by 22.5% year-over-year, primarily due to the Pets Best gain on sale in the prior year, and loan receivables decreased to $99.6 billion.
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